Banks Disagree with CECL and Fintech Earnings Season

In this week’s PeerIQ Industry Update they cover the continued flattening of the yield curve and the growth of consumer credit growing at a rate smaller than expected; the Bank Policy Institute wrote a letter to the Treasury Secretary and FSOC saying the implementation of CECL will reduce lending, in particular during a period of financial stress on the economy; fintech earnings for Enova (ENVA), GreenSky (GSKY), LendingClub (LC), OneMain (OMF) and OnDeck (ODK) showed a mixed bag of results with most posting double digit revenue growth and origination growth. Source.